In June 2008, S&P Global Platts launched the world's first daily iron ore price assessment, IODEX, from its Singapore office. Over the next two years, this price would gradually replace the old benchmark as more companies opted to price their physical iron ore using modern market-tracking techniques.

Iron Ore traded at 75 on Wednesday October 24. Historically, Iron Ore reached an all time high of 191.90 in February of 2011 and a record low of 37 in December of 2015. Iron ore prices refer to Iron Ore Fine China Import 63.5 percent grade Spot Cost and Freight for the delivery at the Chinese port of Tianjin.

In respect of final settlement, the Floating Price will be a price in USD and cents per dry metric tonne based on the average of the relevant High/Low daily quotations published by Platts within their real-time data service "Platts Metal Alert" (PMA) under the heading "IODEX: 62% Fe CFR North China" subheading "IODEX 62% Fe" for each business day during the determination period.

Daily iron ore prices - October 8, 2018 Source of offer Destination Product Iron content ... This content is only available to subscribers. Try for free by filling in the form. Already registered? Log in. This content is only available to subscribers. Try for free by filling in the form. ...

Iron Ore (Fe) is mined in around 50 countries worldwide and used to make steel (buildings, cars, white goods etc.). Global economic growth is the primary factor that drives its supply and demand. When economies are growing, the need for steel in construction increases which drives the price up.